Whole Foods Market (NASDAQ:WFM) and Fresh Market (NASDAQ:TFM) gained early Monday. Whole Foods rose 2% to $57.07 whereas Fresh Market rose 4% to $36.62.
Whole Foods rose to outperform from market perform according to BMO Capital Markets, saying the three-month sell off is a good opportunity to buy the stock.
BMO has raised its long-range price target by 8% for Whole Foods. The long-range price target is now set at $65 a share.
J.P. Morgan raised Fresh Market to overweight from neutral. Fresh Market's price target also increased by 27% to $42 a share. Fresh Market will be aided and lead by its higher-income customers and new store growth according to J.P. Morgan.